Some investment trips are memorable because of the conclusions they generate. Others stand out because of the experiences that shape those conclusions. Our recent two-week research trip across Hong Kong, Taiwan and China was very much both.

Watch our video with Portfolio Manager Mogens Akselsen and gain insight into why Asia may continue to be one of the most attractive regions for long-term investors.

The speed of change is extraordinary, with the transition to a multipolar world creating geopolitical fragmentation and the “rise of the nation state” now happening at an accelerating pace. However, the uncertainty of change can also create blind spots if you focus too much on the daily news flow rather than the long-term fundamental trajectories.

We see signs of change among international investors and a growing reassessment of how global equity portfolios are constructed. The trigger is not a single event, but a combination of geopolitical fragmentation, heavy concentration in AI-related stocks, and a continued US dominance in global indices.

Global manufacturing has entered a new regime. Electrification is intensifying as a structural driver of energy demand, industrial investment and geopolitical leverage – reshaping not just energy markets, but industrial power.